NORTH CAROLINA GENERAL ASSEMBLY

1971 SESSION

CHAPTER 466

SENATE BILL 469

AN ACT TO EXTEND THE LENGTH OF TIME TO PAY OFF LOANS BY MEMBERS OF SAVINGS AND LOAN ASSOCIATIONS.

The General Assembly of North Carolina do enact:

Section 1.  G.S. 54-20 is hereby amended by striking out in lines 30 and 31 the words "twenty-five years" and inserting in lieu thereof "a term to be fixed by the Commissioner of Insurance of North Carolina, which term shall not exceed forty years".

Sec. 2.  This act shall become effective upon ratification.

In the General Assembly read three times and ratified, this the 1st day of June, 1971.